Beijing Auto mulls joint venture with Aston Martin
Mainland carmaker mulls joint venture with Aston Martin in move to diversify product lines
Beijing Automotive Group plans to set up more joint ventures with foreign brands such as Aston Martin Lagonda of James Bond fame as the state-owned carmaker seeks to diversify its product lines.
People close to the situation told the South China Morning Post that Beijing Auto had been in talks with investment bankers and consultants for various proposals about how it could expand its product lines in partnership with foreign carmakers.
Beijing Auto is trying to provide different types of cars to meet the growing demand of mainland consumers, particularly the middle-class whose desire for cars has gone beyond the basic need of transport and become focused more on luxury lifestyle.
Officials at Beijing Auto and Aston Martin could not immediately be reached for comment.
Among options for Beijing Auto is a joint venture with Aston Martin - whose cars have been made famous by the James Bond film franchise.
The potential partnership was recently recommended to Beijing Auto by a well-known Chinese investment banker who was working on behalf of the legendary British luxury carmaker, said the people who declined to be identified as the talks remain confidential and private.